Horizon 2020, the EU's programme for research and innovation, provides nearly €80 billion of funding from 2014 to 2020. It focusses on improving competitiveness, jobs and growth and tackling societal challenges.

Targets

The innovation output indicator measures the extent to which ideas from innovative sectors are able to reach the market, providing better jobs and making Europe more competitive.

The EU has set itself the target of investing 3% of its GDP in research and development by 2020 - 1% public funding, 2% private-sector investment.